AMI Asset Management Corp Trims Stake in McCormick & Company, Incorporated (NYSE:MKC)

AMI Asset Management Corp trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 384,822 shares of the company’s stock after selling 11,412 shares during the quarter. AMI Asset Management Corp’s holdings in McCormick & Company, Incorporated were worth $31,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after buying an additional 883,327 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in McCormick & Company, Incorporated by 4.4% during the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after purchasing an additional 136,080 shares during the last quarter. ProShare Advisors LLC lifted its stake in McCormick & Company, Incorporated by 2.4% during the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after purchasing an additional 60,512 shares during the last quarter. Nuance Investments LLC lifted its stake in McCormick & Company, Incorporated by 10.5% during the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MKC. TD Cowen lifted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Trading Down 1.1 %

NYSE MKC opened at $77.48 on Wednesday. McCormick & Company, Incorporated has a 1-year low of $62.72 and a 1-year high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $81.15 and a 200-day moving average of $75.98. The firm has a market cap of $20.81 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company posted $0.65 EPS. McCormick & Company, Incorporated’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.